Iceland
Iceland is a volcanic island in the North Atlantic Ocean and the most western country in Europe. It was settled by immigrants from Scandinavia, Ireland and Scotland in the 9th and 10th centuries. Today, Iceland has a population of around 300,000, of whom more than half live in the capital city of Reykjavik and surrounding area.
The Icelandic Parliament - the Alþingi – is the world's oldest functioning legislative assembly and was established in the year 930 AD. In 1918 Iceland became a sovereign state under the Danish crown before becoming an independent republic in 1944.
Modern Iceland is a progressive and successful European country, whose citizens enjoy one of the best standards of living in the world. It is a member of the European Free Trade Area and of NATO. The fishing industry accounts for almost three quarters of Iceland's total exports.
At 18 per cent, Iceland has one of the lowest rates of corporation tax in Europe and is ranked the 4th most competitive economy in the IMD World Competitiveness Scoreboard. The Icelandic economy has been growing steadily since the 1990s. The country has low unemployment, and a very even distribution of income. Economic success has enabled Iceland to invest in a generous welfare system and a high standard of public health. Iceland now has one of the highest average life expectancies in the world.
Like Scotland, Iceland has vast renewable energy resources. The country already gets most of its energy from hydro and geothermal power - 80 per cent of the island’s buildings are now heated with geothermal energy. Iceland has ambitious plans to convert all its vehicles, including fishing boats, to clean hydrogen in order become the world’s first fossil fuel-free economy. The hydrogen program is being funded and directed by a consortium that includes DaimlerChrysler, Shell Oil, and Norsk Hydro.
Independence has given Iceland the freedom to become a world leader. It’s the best thing that ever happened to Iceland. It could be the best thing that ever happens to Scotland too.
